Constellation Brands Inc Stock Forecast
Constellation Brands Inc stock downgraded to Hold/Accumulate
(Updated on Jun 25, 2024)
The Constellation Brands Inc stock price fell by -1.30% on the last day (Tuesday, 25th Jun 2024) from $265.13 to $261.68. During the last trading day the stock fluctuated 2.00% from a day low at $260.49 to a day high of $265.69. The price has risen in 6 of the last 10 days and is up by 3.97% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -278 thousand shares and in total, 632 thousand shares were bought and sold for approximately $165.42 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $264.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.90% during the next 3 months and, with a 90% probability hold a price between $228.24 and $251.92 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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STZ Signals & Forecast
The Constellation Brands Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $261.80. On a fall, the stock will find some support from the long-term average at approximately $254.21. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.30%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Constellation Brands Inc stock
Constellation Brands Inc finds support from accumulated volume at $260.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.20 between high and low, or 2.00%. For the last week, the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: $252.33 (-3.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (STZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Constellation Brands Inc to open at $262.62, and during the day (based on 14 day Average True Range), to move between $257.32 and $266.04, which gives a possible trading interval of +/-$4.36 (+/-1.67%) up or down from last closing price. If Constellation Brands Inc takes out the full calculated possible swing range there will be an estimated 3.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $260.70 (0.37%) than the resistance at $264.92 (1.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Constellation Brands Inc will release earnings BMO on Wednesday, July 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.46. We will update the financials statements for Constellation Brands Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.41% in the first trading day after earnings release.
Is Constellation Brands Inc stock A Buy?
Constellation Brands Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.562 Hold/Accumulate Downgraded
Predicted Opening Price for Constellation Brands Inc of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$262.62 ( 0.359%) | $261.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 267.82 | 2.35% |
R2 | 265.83 | 1.59% |
R1 | 264.61 | 1.12% |
Price | 261.68 | |
S1 | 260.63 | -0.400% |
S2 | 259.41 | -0.87% |
S3 | 257.42 | -1.63% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 268.34 | 2.55% |
R2 | 266.00 | 1.65% |
R1 | 264.92 | 1.24% |
Price | 261.68 | |
S1 | 260.70 | -0.375% |
S2 | 257.78 | -1.49% |
S3 | 257.31 | -1.67% |
STZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 02, 2024 | May 02, 2024 | May 17, 2024 | $1.01 | 0.395% |
2 | Jan 04, 2024 | Feb 07, 2024 | Feb 22, 2024 | $0.89 | 0.362% |
3 | Oct 04, 2023 | Nov 02, 2023 | Nov 17, 2023 | $0.89 | 0.378% |
4 | Jun 29, 2023 | Aug 09, 2023 | Aug 24, 2023 | $0.89 | 0.345% |
5 | Apr 05, 2023 | May 03, 2023 | Aug 24, 2023 | $0.89 | 0.345% |
FAQ
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